16 Sept 2008 – World shares dive after Lehman Brothers collapse

“Global stock markets plunged Monday as the dramatic collapse of US investment bank Lehman Brothers sparked sharp losses across the financial sector on fears more bad news is to come, dealers said.”

“With European bourses down between three and four percent, Wall Street slumped after a bankruptcy filing by Lehman Brothers and the distress sale of Wall Street rival Merrill Lynch to Bank of America.”

“The central banks, led by the US Federal Reserve, rushed to inject tens of billions of US dollars into the money markets to head off any rush on liquidity as investors pulled money out of stocks and looked for safety.”